CVX Weekly Technical Analysis
Chevron Corporation
Integrated energy and chemical company
CVX Technical Analysis Summary
Chevron shows a technically significant bullish development on the weekly chart, having broken out of a prolonged consolidation phase with high volume and strong momentum. The price is now trading well above key moving averages (50 and 200 SMAs) and the upper Bollinger Band, signaling an impulsive move. Indicators like the RSI at 70 and expanding positive MACD support continued upside, though the extension suggests a retest of the 168-170 breakout level is possible before challenging historical highs near 190.
Included In Lists
Related Tickers of Interest
CVX Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price has printed a strong bullish breakout candle above the upper Bollinger Band and key resistance. RSI has entered overbought territory (>70), indicating strong momentum, while MACD histogram is expanding positively.
Long-term Sentiment (weeks to months): Bullish
Price has decisively reclaimed both the 50-week and 200-week SMAs. The breakout from a multi-year consolidation base suggests a resumption of the primary uptrend.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-01-31T23:40:56.810Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $167.50 | $165.00 - $170.00 | Strong | Former resistance zone of the consolidation pattern, now acting as immediate support on retest. |
| $154.50 | $152.00 - $157.00 | Strong | Confluence of the 50-week SMA, 200-week SMA, and the middle Bollinger Band. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $182.50 | $180.00 - $185.00 | Weak | Cluster of swing highs from early 2023. |
| $189.00 | $188.00 - $190.00 | Strong | Major structural resistance corresponding to the 2022/2023 historical highs. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Consolidation Breakout | Bullish | $196.00 | Price has broken out of a long-term rectangular consolidation range (roughly 140-168) that has contained action since mid-2023. |
| Strong | MACD Bullish Crossover | Bullish | N/A | The MACD line has crossed above the signal line and surged well above the zero line, confirming trend momentum. |
Frequently Asked Questions about CVX
What is the current sentiment for CVX?
The short-term sentiment for CVX is currently Bullish because Price has printed a strong bullish breakout candle above the upper Bollinger Band and key resistance. RSI has entered overbought territory (>70), indicating strong momentum, while MACD histogram is expanding positively.. The long-term trend is classified as Bullish.
What are the key support levels for CVX?
StockDips.AI has identified key support levels for CVX at $167.50 and $154.50. These levels may represent potential accumulation zones where buying interest could emerge.
Is CVX in a significant dip or a Value Dip right now?
CVX has a Value Score of -12/100. It is currently flagged as a significant dip in the Top Dips list. It is also listed as a Value Dip because long-term sentiment is bullish.
View the full interactive analysis on StockDips.AI.